Technology / Semiconductor / Internet Research

Nicolas Baratte

Nicolas Baratte has been a financial analyst since 2000, covering the Semiconductor sector and Global Technology. Nicolas has worked on the sell-side for JPMorgan, CLSA. On the buy-side for a Tiger fund and Prudential. Nicolas has covered semiconductors, Asian hardware and components, and the Global Tech supply chain. Nicolas lives mostly in Taiwan, sometimes in France and is in New York regularly.

Alphawave Ditches WiseWave Before Embracing Qualcomm Bid. But Why?

Qualcomm 2Q25 (March 25): Boring and Cheap

Qualcomm Q125. Firing On All Cylinders & An Ace Up Their Sleeve...

Equity Bottom-Up

<ul>
<li>Qualcomm is a great, very profitable firm, with a critical vulnerability: 75% of revenues come from Mobile market. Auto has been growing nicely but that’s 10% of revenue.</li>
<li>Qualcomm has been looking for a large market to diversify into and has been working for 10 years on Server CPU. Not successful so far. </li>
<li>Qualcomm has 2 AI chips which are in non-mainstream Clouds. Now 2 new chips announced for 2026-27: AI200 AI250. That’s good but what we have yesterday is a PR announcement.</li>
</ul>


Qualcomm is a great, very profitable firm, with a critical vulnerability: 75% of revenues come from Mobile market. Auto has been growing nicely but that’s 10% of revenue.
Qualcomm has been looking for a large market to diversify into and has been working for 10 years on Server CPU. Not successful so far. 
Qualcomm has 2 AI chips which are in non-mainstream Clouds. Now 2 new chips announced for 2026-27: AI200 AI250. That’s good but what we have yesterday is a PR announcement.


Qualcomm Inc

Qualcomm’s Weird AI Announcement